Why are some objects visible in the outliner but not in the 3D view?
As I said in my comment, the pillar object is on layer 5 and you only have layers 1 and 11 set to be visible. Showing layer 5 reveals the 'banner' (shown as pink due to missing textures):



I can see it is on layer 5 because the orange dot appears on the 5th square of the layers UI, indicating the layer the selected object is on:



You need to press Shift while selecting the 5th layer to make it visible along with the other layers. The squares indicating the layers go a dark colour when they are selected (or in the case of your Blender theme, blue), which is how I could tell only layers 1 and 11 are selected in your original screenshot. 

For more information on viewing and managing layers, see the Layers section of the Blender Manual.